Real Estate Agent Alert! Did you know that any locked rooms that are not accessible by the appraiser will result in the appraiser issuing a “subject to” appraisal? This means they will have to go back out to the property again, adding cost and possibly delaying a closing. Make sure your sellers are aware of this before the appraiser visits!
Related Article Title: Fannie Mae Appraiser Update 9-2019 – Appraisal forms, Desktop Appraisals, Inaccessible Areas, USPAP Disclosures, Property Inspections Written by: Lloyd Rutherford, Staff Writer Any originator or underwriter who has experienced loan fallouts or delays due to an appraisal will appreciate this update. Rule Synopsis: Fannie Mae publishes a quarterly Appraiser Update in a […]